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This newspaper page contains 14 articles. Subscribers can read the full text of each article.
Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
May 25, 1948
Page
8
The May wage settlement at General Motors uses a sliding scale tied to living costs, prompting unions at steel, meat packing, and electrical sectors to push for similar plans. If adopted industry wide, the scheme could raise purchasing power by large sums, influencing prices and inflation.
Amid volatile sessions on the New York Stock Exchange, traders faced erratic moves across sectors as technology and energy issues influenced prices. Analysts cautioned investors to expect continued swings amid geopolitical tensions and shifting interest-rate expectations.
New York stocks showed a mixed session with some shares advancing while others eased. Traders noted cautious sentiment as cotton exports and commodity prices influenced broader trading, with specific issues including steel, automotive, and financials fluctuating throughout the day.
In New York May 25 an irregular market saw stocks retreat despite some finance and industry leaders posting gains. General Motors touched a 1948 high early, then faded while International Paper and General Electric posted new yearly peaks. Notable risers included Westinghouse Electric and Colorado Fuel & Iron with extra dividends, while declines hit I Steel, Santa Fe, Union Pacific, Canadian Pacific, and others. Dun & Bradstreet reported a second straight weekly drop in commercial and industrial failures, totaling 92 for the week ending May 1.
Market report from New York on May 23 notes mixed advances and declines across grains and other commodities. Wheat mixed, corn slightly higher, with overall sluggish activity as traders weigh late session data and demand signals.
London stocks edged cautiously as the Financial Times Daily Index showed little change with modest activity across blue chips. Investors awaited clearer signals while trading volumes remained light on a quiet session.
Chicago reports slowed hog and cattle action with receipts around 43,000 hogs and 4,000 cattle. Prices range from about 17 to 33 dollars for steers and heifers, with hogs trading lower around 0.73 cents per pound, and market activity showing mixed demand at delivery points in California.
Grain prices and trading notes from Chicago show firmer oats and higher wheat futures. Reports cite buying interest, with July wheat near 2.36 and oats up modestly amid varied bids, while corn and barley show mixed results and local cash activity includes oats and barley movements.
The report lists currency values and changes across regions. Canada uses the dollar while Europe shows unchanged rates for Britain and the Swiss franc. Latin American currencies like Argentina and Brazil are noted with specific figures and small movements.
Treasury report from Los Angeles and New York markets shows receipts and expenditures with multiple city balances and index figures. It lists balances for Philadelphia and New York, with totals around 991 million to 985 million, and notes various commodity prices and market movements amid a broad bank and treasury context.
A fragmentary market roundup shows wholesale staple prices for meat dairy and eggs with references to grade categories and dealer notes. The unreadable text mentions butter eggs poultry prices and various grade terms and price points, indicating a historical pricing snapshot.
New York May 25 Business failures in the week ended May 20 declined to 92 from 100 in the prior week and from 102 in the like week last year Dun and Bradstreet announced. Failures with liabilities of 5000 dollars or more fell to 78 from 101 in the preceding period.
A fragmented and garbled OCR page lists numerous company names and entities across sectors such as oil, aviation, and manufacturing. The text mentions Blué Diamond Corps, General Motors, Lockheed, Sunray Oil, Pacific, and other obscure firms in a dense, error-filled roster without coherent narrative or verifiable events.
Submitting an offer to purchase Jergins Oil shares. The message requests firm offering amounts and price per share and references Write P.7. 12, Box W-3901.
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